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Financial Leasing Services: Service Tax on interest on loan prior to 01.03.2006?
Case Law Details
- Case Name
- Commissioner of CGST & Central Excise Vs Shriram Transport Finance Company Ltd. (Bombay High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Bombay High Court
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Commissioner of CGST & Central Excise Vs Shriram Transport Finance Company Ltd. (Bombay High Court)
Whether for the period prior to 01.03.2006, service tax is recoverable on entire interest component collected as equated monthly installments on transactions relating to ‘Financial Leasing Services including equipment leasing and hire-purchase’, in absence of any mechanism to bifurcate the processing or management charges?
Explanation 1 to section 67 of the Finance Act prior to 18.04.2006 contained a specific exclusion vide sub clause (viii) excluding interest on loans. Though se...
